Hungary’s MOL explores alternatives to Russian oil, boosts Azerbaijani ties

Hungarian oil giant MOL is considering reviving a pipeline from the Ukrainian port of Odesa to Brody as an alternative to Russian crude, Bloomberg reported Tuesday, citing MOL’s senior vice president Szabolcs Pál Szabó.

The route would allow oil shipped by sea to reach the Druzhba pipeline via Brody, creating access to a wider mix of crude sources and reducing dependence on Russian supplies.

MOL has long maintained strong ties with Azerbaijan’s state oil company SOCAR. The company regularly imports Azeri Light crude through the Baku-Tbilisi-Ceyhan pipeline and Turkey’s Ceyhan port. This partnership is seen as central to Hungary’s diversification strategy.

The European Union plans to end all Russian oil imports, including exemptions for Hungary and Slovakia, by the end of 2027.

N.Tebrizli